Older workers lead the comeback

CHICAGO, June 25 (UPI) -- U.S. workers 55 and older have enjoyed the largest comeback of any age group in the slowly recovering economy, a private research group found.

Over the past 28 months, employment among three age categories -- teenagers, workers 35 to 44 yeas old and those 45 to 54 -- declined, Challenger, Gray & Christmas reported Monday.

Workers 20 to 24 added 980,000 jobs in the same time frame. Workers 25 to 34 gained 882,000 jobs since Jan. 1, 2010, the firm said.

Those 55 and older, however, gained 2,998,000 jobs or 69 percent of the total in employment growth, Challenger, Gray & Christmas said.

Part of the reason behind the trend is thrift. Older workers have experience in various jobs and can often wear more hats at a company than a younger worker, the firm said.

"A seasoned candidate who brings a wide variety of skills and experience to the table is going to have an advantage over younger candidates. For employers, one experienced candidate is worth two or three younger, greener candidates, in terms of the ability to make immediate and meaningful contributions to output and the bottom line," said Chief Executive Officer John Challenger.